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City staff says closing TID 10 a year early will return about $1.3M to tax roll
Summary
City staff told aldermen that Tax Increment District 10 obligations have been satisfied and recommended closing the district in 2026 rather than 2027, which would return an estimated $1.3 million in assessed value to the tax roll and add roughly $114 million in assessed value overall to the tax base.
City staff presented an update on the status of Tax Increment District 10 (TID 10) during the Muskego Common Council meeting on Feb. 10 and recommended closing the district a year early.
Jenny, a city staff member, said that although TID 10 was scheduled to close in 2027, obligations are satisfied in 2026 and staff proposes closing in 2026. She said closing early would add roughly $1.3 million back to the tax roll in the near term and that the assessed value within the TID is about $115 million overall. Staff clarified that the revenue returning is not entirely the city's share; the assessed-value number is the full taxable base in the district.
Council had no further questions and accepted the staff presentation. Staff said they can provide additional projected numbers on request.
What happens next: If the city proceeds to close the TID in 2026, the taxable value will be returned to the tax roll and distributed to taxing jurisdictions according to law; staff will provide any additional detail required by the council.
